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Silver hovers near record US$50

04-29-2011 14:08 BJT

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Silver soared to an all-time high on Thursday, and gold also rose to yet another record. The precious metals shone as the dollar fell, and as signs the Fed Reserve is set to maintain a loose monetary policy stoked inflation worries.

Silver briefly climbed to within a whisker of 50 U.S. dollars per ounce, eclipsing the peak hit when Texan brothers William Herbert and Nelson Bunker Hunt sought to corner the silver market three decades ago. The metal later pulled back on technical selling. Options traders reported strong buying of long-dated in-the-money silver calls, indicating bullish investor expectation.

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Editor:Xiong Qu |Source: CNTV.CN

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